FDIC Deposit Insurance

Since 1933, the FDIC seal has symbolized the safety and security of our nation’s financial institutions. FDIC deposit insurance is backed by the full faith and credit of the United States government.

The FDIC covers the following categories of accounts

  • Checking accounts
  • Negotiable Order of Withdrawal (NOW) accounts
  • Savings accounts
  • Money Market Deposit Accounts (MMDAs)
  • Time deposits such as certificates of deposit (CDs)
  • Cashier’s checks, money orders, and other official items issued by a bank

The FDIC does not cover

  • Stock investments
  • Bond investments
  • Mutual funds
  • Life insurance policies
  • Annuities
  • Municipal securities
  • Safe deposit boxes or their contents
  • S. Treasury bills, bonds or notes

COVERAGE LIMITS

The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. All deposits held by an accountholder in the same ownership category at the same bank are added together

The FDIC provides separate coverage for deposits held in different account ownership categories. Depositors may qualify for coverage over $250,000 if they have funds in different ownership categories and all FDIC requirements are met.

Using the FDIC guidance on structuring joint depoits larger than $250,000, we can assist you on insuring your large deposits.

Call or visit us to talk to one of our customer service staff and any of our banking officers, including our president to discuss insuring your deposits.

Since the FDIC was established in 1933, no depositor has lost a penny of FDIC insured funds.

To learn more about the FDIC insurance please visit the FDIC’s website by clicking here: https://www.fdic.gov/deposit/deposits/index.html

To calculate your FDIC insurance coverage, please visit the FDIC’s insurance calculator by clicking here: https://www5.fdic.gov/edie/